Mercury Systems Inc $MRCY Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL cut its stake in Mercury Systems by 56.3%, selling 51,511 shares in the third quarter and now holds 39,923 shares valued at about $3.09 million (0.07% of the company).
• Insiders have been heavy sellers, offloading 859,758 shares worth roughly $74.48 million in the last 90 days, leaving insiders with 1.4% ownership while institutional investors hold 95.99%.
• Mercury beat the quarter with $0.16 EPS (vs. $0.07 expected) and $232.87M revenue (vs. $209.96M), but still has a negative net margin and a consensus analyst rating of "Hold" with a $86.33 target.

Tudor Investment Corp ET AL lowered its position in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 56.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,923 shares of the technology company's stock after selling 51,511 shares during the quarter. Tudor Investment Corp ET AL owned 0.07% of Mercury Systems worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in Mercury Systems by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company's stock valued at $555,000 after acquiring an additional 142 shares during the last quarter. AlphaQuest LLC boosted its holdings in Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock valued at $44,000 after acquiring an additional 168 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Mercury Systems by 10.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,941 shares of the technology company's stock valued at $150,000 after acquiring an additional 181 shares during the last quarter. Focus Partners Wealth boosted its holdings in Mercury Systems by 3.0% in the third quarter. Focus Partners Wealth now owns 6,929 shares of the technology company's stock valued at $536,000 after acquiring an additional 199 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after acquiring an additional 208 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Trading Up 0.5%

Shares of MRCY opened at $79.60 on Friday. The stock's 50-day moving average is $82.27 and its two-hundred day moving average is $80.16. The stock has a market cap of $4.78 billion, a PE ratio of -150.19, a P/E/G ratio of 7.67 and a beta of 0.84. Mercury Systems Inc has a 12 month low of $44.01 and a 12 month high of $103.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million for the quarter, compared to analysts' expectations of $209.96 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The firm's quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Douglas Munro sold 582 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $48,631.92. Following the transaction, the chief accounting officer owned 14,328 shares in the company, valued at approximately $1,197,247.68. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Howard L. Lance sold 4,832 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total value of $429,951.36. Following the completion of the transaction, the director owned 27,272 shares in the company, valued at approximately $2,426,662.56. This trade represents a 15.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 859,758 shares of company stock worth $74,481,931. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

MRCY has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Mercury Systems from $49.00 to $55.00 and gave the company a "sell" rating in a report on Tuesday, January 20th. Truist Financial boosted their price objective on Mercury Systems from $102.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Jefferies Financial Group reduced their price objective on Mercury Systems from $85.00 to $80.00 and set a "hold" rating on the stock in a research note on Tuesday. Finally, Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $86.33.

Mercury Systems Profile

Mercury Systems, Inc NASDAQ: MRCY is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company's products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury's offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.

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